WSJ.com: US Business
China Stokes Domestic Auto Makers
Updated May 23, 2014 7:32 p.m. ET
SHANGHAI—China is ratcheting up subsidies to local auto makers worth more than $700 million a year, even as the industry contends with a glut of car factories and about 170 domestic manufacturers.
The subsidies feed Beijing's desire to create a technologically sophisticated auto industry that could rival Germany and the U.S. and propel local car makers overseas. But they also hinder a goal of consolidating the nation's many small...
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